Gautam Adani becomes largest shareholder of NDTV | World's 3rd richest person

Following an open offer, billionaire Adani becomes NDTV's largest shareholder.

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Through an open offer, Indian billionaire Gautam Adani's company increased its shareholding in New Delhi Television Ltd to more than 37% on Monday.

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Adani became the largest shareholder in one of the nation's most popular news organizations as a result of this open offer

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Adani's group was seeking a 26% stake in NDTV, but the open offer received bids for only 5.3 million shares, turning to an 8.3% stake in the company.

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Adani acquired a 29.2% stake in NDTV by purchasing a company founded by the television network's creators.

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Radhika Roy and Prannoy Roy, that own 32.3% of NDTV.

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Ravish Kumar, NDTV's senior executive editor, resigned shortly after Adani acquired the founder entity.

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Adani, on the other hand, has stated that acquiring NDTV is a "responsibility" rather than a business opportunity.

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When the acquisition is completed, Gautam Adani has invited Prannoy Roy to remain as chairman.

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In the open offer, Adani offered to buy NDTV shares for 294 rupees, a 25% discount from Monday's closing price.

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